I guess that depends if you value the opinion of those that find it racially insensitive. Middle class white people- No, black people who it has causes genuine offence- yes. I wonder if anyone thought to ask them.
Is it absolutely ludicrous for anyone (and no doubt it will be mainly white people who claim offence) to be offended by a white person dressing up as a black celebrity at a fancy dress party? Yes.
Is it absolutely ludicrous for anyone with any profile to put themselves in this position by doing...